Fintech infrastructure provider Alpaca completes $150 million financing round, led by Drive Capital
According to Odaily, fintech infrastructure provider Alpaca has announced the completion of a $150 million Series D funding round, reaching a valuation of $1.15 billion. This round was led by Drive Capital, with participation from Citadel Securities, an unnamed exchange, and the venture capital arm of BNP Paribas. As part of the financing, Alpaca also secured a $40 million credit line. Alpaca's software enables companies to more easily offer trading services for stocks, ETFs, cryptocurrencies, and other financial instruments. Yoshi Yokokawa, co-founder and CEO of Alpaca, stated that as the boundaries between traditional finance and the crypto sector blur and platforms integrate their services, Alpaca's annual recurring revenue has surpassed $100 million. (Fortune)
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